
Gold Crashes Below $3,900, Heading for Worst October Since 2008
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Gold has now lost approximately 29-30% from its all-time high of $5,589-$5,595 reached Jan. 28, 2026, and is on track for its worst October since 2008 with a projected 6% monthly drop. Goldman Sachs cut its 2026 year-end forecast to $4,650. The Central Bank of Egypt raised interest rates by 100 basis points Oct. 29. Global gold ETFs attracted $10 billion in inflows in September despite falling prices. JPMorgan warned prices could fall further. Morgan Stanley's $4,000 support level has been breached.
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